Danco Co. v. Commissioner
United States Tax Court
Petitioner, an Ohio corporation organized in April, 1940, was engaged during the taxable years 1942 and 1943 in the business of fabricating sheet metal to customers' specifications. Petitioner duly filed applications for relief under section 722 (c) of the Internal Revenue Code in respect to the years 1942 and 1943, which applications have been disallowed by the Commissioner.
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Petitioner, an Ohio corporation organized in April, 1940, was engaged during the taxable years 1942 and 1943 in the business of fabricating sheet metal to customers' specifications. Petitioner duly filed applications for relief under section 722 (c) of the Internal Revenue Code in respect to the years 1942 and 1943, which applications have been disallowed by the Commissioner. Held, that a taxpayer seeking relief under section 722 (c) must demonstrate the inadequacy of its excess profits tax credit based upon invested capital by showing the existence of one of the qualifying features under…
1Opinion of the Court
The Danco Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Danco Co. v. Commissioner
Docket No. 19519
United States Tax Court
14 T.C. 276; 1950 U.S. Tax Ct. LEXIS 266;
February 28, 1950, Promulgated
Decision will be entered for the respondent.
Petitioner, an Ohio corporation organized in April, 1940, was engaged during the taxable years 1942 and 1943 in the business of fabricating sheet metal to customers' specifications. Petitioner duly filed applications for relief under section 722 (c) of the Internal Revenue Code in respect to the years 1942 and 1943, which applications have…
2Cases cited6 opinions
- Lamar Creamery Co. v. CommissionerUnited States Tax Court · 1947
- MacDonald v. CommissionerUnited States Tax Court · 1944
- Danco Co. v. CommissionerUnited States Tax Court · 1950
- Irwin B. Schwabe Co. v. CommissionerUnited States Tax Court · 1949
- Fairfax Mut. Wood Products Co. v. CommissionerUnited States Tax Court · 1945
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